He said that RBI's draft norms that allow foreign banks stake up to 10 per cent and the earlier policy on FDI allowing a 74 per cent holding (that was notified by the previous Government) did not help in providing clarity on the crucial issues.

"The big jigsaw is how to go there (74 per cent holding)," Mr Booker said on the sidelines of `Euromoney conference' here.

He said that the RBI draft norms did not help foreign banks to have a meaningful holding in Indian private banks. "It is unpalatable to make a choice (of buying a private bank) with 5.0 per cent hike in holding."